Controversial E-Levy Finally Passed

Parliament has passed the controversial Electronic Transactions Levy (E-Levy) bill after months of back and forth in parliament.

The bill was considered by the House following its third reading, with Alban Bagbin, the Speaker of Parliament, in the chair.

Before the question was given to the house, the Minority in Parliament staged a walkout.

Ken Ofori-Atta, the Minister of Finance, filed a motion in parliament on Tuesday, March 29, 2022, requesting that the house accept the revised 1.5 percent E-Levy bill’s second reading to speed its passage into law.

The motion was debated by the majority and minority, who argued opposing points of view on the bill.

While the minority continued to oppose the law, members of the majority argued in favor of it, claiming that it was necessary for income mobilization and development.

This implies the government can now levy a tax on a variety of electronic money transfers across numerous platforms, such as mobile wallets and bank accounts.

As applicable, the tax will be added to the various service fees paid by the various platforms.